Expansion and Diversification of Securitization Yearbook 2007

by De Vries Robbe, Jan Job; Ali, Paul U.

• ISBN13: 9789041126610
• ISBN10: 9041126619
• Format: Hardcover
• Copyright: 2007-10-31
• Publisher: Kluwer Law Intl

Summary

The contributions in this volume elucidate both 'synthetic securitization' (which involves the investors in exposure-based securities to particular risks in exchange for a fee) and conventional securitization (issuance of securities for the primary purpose of raising funds for the originator or owner of the assets being securitized). The various contributions illustrate how the structures employed in securitizations are readily capable of being applied to a wide range of income-generating assets, including such innovative asset classes as the following: commercial mortgages student rents intellectual property rights carbon emission allowances life insurance policies project and infrastructure loans microfinance loans sovereign aid grants non-performing loans loans to finance corporate takeovers tax receivables and other public sector assets In addition, this volume covers the emergence of new markets for securitization in Asia, Latin America, Islamic countries, and South Africa, as well as major developments in the accounting treatment of securitizations and evolving judicial attitudes to the underlying sale and credit derivative components of securitizations.

Table of Contents

Structured Credit
Loan Trading Considerations under a CDO	p. 1
US Developments in Synthetic Securitization: Rampant Growth and the Spectre of SEC Regulation	p. 25
Ratings Methodology for FX CDOs and CCOs	p. 41
Alternative Assets
The Dance of Debt: Learning about Income Securitization in a Small United Kingdom University	p. 59
Securitizing Intellectual Property, with Some Comments on Taiwan	p. 85
Eco-Finance and Securitization: Carbon as a New Asset Class	p. 97
Managed Life: Securitization of Life Insurance Policies	p. 107
Securitization in Japan	p. 119
Securitization in the Project Finance and Infrastructure Arena	p. 143
Emerging Markets
Microfinance Securitization: Thinking Outside the Box	p. 163
Securitization in Latin America	p. 179
Monetizing Sovereign Grants for Development Purposes: A Case Study of International Finance Facility for Immunisation Company	p. 193
Islamic Securitization: Advances and Peculiarities	p. 213
South African Securitization Issuances on International Markets	p. 229
MBS
European CMBS: Structure and Developments	p. 243
Servicing Italian CMBS Transactions	p. 269
Securitization of Non-Performing Loans	p. 285
Financing the Westinghouse Acquisition	p. 299
Regulatory
Accounting for Securitizations: The Post IFRS World	p. 311
Recharacterization Risk in Securitization and Other Structured Finance Transactions: Looking Beyond the Demise of the Fixed Charge	p. 347
Securitization in Asia and Latin America Compared	p. 383
The Evolution of Public Sector Securitization in Emerging Markets	p. 405
Table of Contents provided by Blackwell. All Rights Reserved.